Every Florida resident with assets should consider ways to protect their cash, investments, businesses and other properties from debtors and lawsuits. Fortunately, Florida law provides legal means of asset protection. In fact, Florida has liberal asset protection laws and folks often move to Florida to take advantage of these friendly laws.

At Di Pietro Partners we offer high quality estate planning services to clients throughout South Florida. Continue reading to learn more or contact an experienced asset protection attorney at our law firm for a free consultation today.

Florida Asset Protection Laws

Perhaps the most well-known Florida asset protection statute involves property owners. Florida’s homestead exemption law protects folks from losing their homes when they are sued.

Another commonly used asset protection device involves spouses. Any property jointly owned by husband and wife is protected from creditors of either spouse. However, mortgages must be paid and a lien may be placed on the property if workers are not reimbursed for home improvements.

Finally, limited partnerships and limited liability companies are set up to protect business or investment assets in Florida.

What You Can Do

The best way to protect your assets is to establish legal documents BEFORE any problems arise. Asset protection planning is more difficult to pursue once you are being sued or a court case has been filed. For example, if the court freezes your assets it may be very difficult to transfer them to a trust.

An experienced asset protection attorney can help if you find yourself in legal trouble. Sadly, folks may bring a fraudulent lawsuit against you; so, it’s important to protect your assets and business interests before any problems arise. Remember, prevention is the best practice; but, a skilled attorney will advise you of Florida’s asset protection laws at any time.